Buteo Consult: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Buteo Consult
Largest movements
- Receivables within one year -€120,095
down €120,095 (-74.2%), from €161,798 to €41,703
of which Other amounts receivable: -€123,105
- Cash -€28,525
down €28,525 (-50.6%), from €56,416 to €27,891
mainly Contributions, distributions and other (-€262,458) and Tax, wage and social debts (-€14,668)
- Tangible fixed assets -€2,910
down €2,910 (-18.1%), from €16,103 to €13,192
of which Other tangible fixed assets: -€1,468
- Reserves -€203,790
down €203,790 (-100.0%), from €203,790 to €0
- Other debts +€66,530
new in 2025: €66,530
- Tax, wage and social debts -€14,668
down €14,668 (-44.2%), from €33,159 to €18,491
- Gross operating margin +€19,667
up €19,667 (+32.6%), from €60,261 to €79,928
- Financial income -€6,192
down €6,192 (-100.0%), from €6,192 to €0
- Taxes +€2,293
up €2,293 (+16.7%), from €13,756 to €16,049
- Financial charges -€895
down €895 (-37.0%), from €2,415 to €1,520
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €239,321 | €86,680 | -€152,642 | -63.8% |
| Fixed assets | 21/28 | €19,853 | €16,942 | -€2,910 | -14.7% |
| Tangible fixed assets | 22/27 | €16,103 | €13,192 | -€2,910 | -18.1% |
| Plant, machinery and equipment | 23 | €2,063 | €1,465 | -€598 | -29.0% |
| Furniture and vehicles | 24 | €2,973 | €2,128 | -€845 | -28.4% |
| Other tangible fixed assets | 26 | €11,067 | €9,600 | -€1,468 | -13.3% |
| Financial fixed assets | 28 | €3,750 | €3,750 | = | 0.0% |
| Current assets | 29/58 | €219,469 | €69,737 | -€149,731 | -68.2% |
| Amounts receivable within one year | 40/41 | €161,798 | €41,703 | -€120,095 | -74.2% |
| Trade receivables | 40 | €36,693 | €39,703 | +€3,010 | +8.2% |
| Other amounts receivable | 41 | €125,105 | €2,000 | -€123,105 | -98.4% |
| Cash at bank and in hand | 54/58 | €56,416 | €27,891 | -€28,525 | -50.6% |
| Deferred charges and accrued income | 490/1 | €1,254 | €143 | -€1,111 | -88.6% |
| Total equity and liabilities | 10/49 | €239,321 | €86,680 | -€152,642 | -63.8% |
| Equity | 10/15 | €203,791 | €1 | -€203,790 | -100.0% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €203,790 | €0 | -€203,790 | -100.0% |
| Distributable reserves | 133 | €203,790 | €0 | -€203,790 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €35,530 | €86,679 | +€51,149 | +144.0% |
| Amounts payable within one year | 42/48 | €35,530 | €86,679 | +€51,149 | +144.0% |
| Trade debts | 44 | €2,371 | €1,657 | -€714 | -30.1% |
| Suppliers | 440/4 | €2,371 | €1,657 | -€714 | -30.1% |
| Taxes, remuneration and social security | 45 | €33,159 | €18,491 | -€14,668 | -44.2% |
| Taxes | 450/3 | €33,159 | €18,491 | -€14,668 | -44.2% |
| Other amounts payable | 47/48 | - | €66,530 | +€66,530 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,243 | €2,910 | +€667 | +29.7% |
| Other operating charges | 640/8 | €723 | €782 | +€59 | +8.1% |
| Gross operating margin | 9900 | €60,261 | €79,928 | +€19,667 | +32.6% |
| Operating profit (loss) | 9901 | €57,295 | €76,236 | +€18,942 | +33.1% |
| Financial income | 75/76B | €6,192 | €0 | -€6,192 | -100.0% |
| Recurring financial income | 75 | €6,192 | €0 | -€6,192 | -100.0% |
| Financial charges | 65/66B | €2,415 | €1,520 | -€895 | -37.0% |
| Recurring financial charges | 65 | €2,415 | €1,520 | -€895 | -37.0% |
| Profit (loss) for the period before taxes | 9903 | €61,072 | €74,716 | +€13,644 | +22.3% |
| Income taxes | 67/77 | €13,756 | €16,049 | +€2,293 | +16.7% |
| Profit (loss) for the period | 9904 | €47,316 | €58,667 | +€11,351 | +24.0% |
| Profit (loss) for the period to be appropriated | 9905 | €47,316 | €58,667 | +€11,351 | +24.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.